Daily TF: On the price is seen entering within a daily demand area at 1238.41-1254.85. This area of demand appears weak from the deep test seen on 03/06/14 at 1240.23. Nonetheless, price is currently trading around a small, untouched decision-point level (demand) at 1252.02 at the moment, notice this level was not a reaction to anything, and until now remained untouched, let’s see what the 4hr timeframe has to say!
4hr TF: Our pending buy order set at 1262.48 stood very little chance against that huge full-bodied candle (1265.94/1251.46) recently seen, which pushed prices deep within a fresh area of 4hr demand at 1250.15-1253.79. If we see price close above the 4hr R/S flip (resistance) level at 1257.55, we will definitely be looking for longs back down within the aforementioned 4hr demand area, since we see a clear path north up to at least the 4hr supply area at 1271.78-1267.52.
Pending orders/P.A confirmation levels:
• Areas to watch for buy orders: No pending buy orders are seen in the current market environment P.A.C: No P.A confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.